Tocvan Ventures drills 118.65 m of 0.74 g/t Au at Pilar

Apr 26, 2022

2022-04-26 09:16 ET – News Release

Also News Release (C-CBI) Colibri Resource Corp (2)

Mr. Brodie Sutherland reports

TOCVAN DRILLS 108.6-METERS OF 0.8 G/T AU, INCLUDING 9.4-METERS OF 7.6 G/T AU IN 125-METER STEP-OUT AT PILAR. DISCOVERS NEW MAIN ZONE EXTENSION

Tocvan Ventures Corp. has released drill results from its Pilar gold-silver project in Sonora, Mexico. Results for core drill hole JES-22-62 are provided in this release, a 125m southeast step-out from hole JES-22-59 (116.9m at 1.2 g/t Au), infilling a gap 100m west of hole JES 21-47 (47.3m at 0.7 g/t Au, see Figure 1). JES-22-62 returned 108.6-meters at 0.8 g/t Au and 3 g/t Ag , including 31.9-meters at 2.4 g/t Au and 2 g/t Ag . Within the broader mineralized interval, consistent high-grade gold mineralization was recorded within a silicified sulphide-bearing breccia returning 9.4-meters at 7.6 g/t Au and 5 g/t Ag (see Table 2).

A total of 1,562 meters of Phase III drilling has been completed in nine drill holes providing key information across the Main Zone and 4-T Trend. Results for four drill holes are pending.

Drill Highlights

JES-22-62 (Core)

108.6m at 0.8 g/t Au and 3 g/t Ag, from 48.7m
- Including 31.9m at 2.4 g/t Au and 2 g/t Ag, from 125.4m
- Including 9.4m at 7.6 g/t Au and 5 g/t Ag, from 144.8m

“We consider this new discovery of high-grade breccia hosted mineralization on trend with our Main Zone one of our most significant findings to date.”, commented Brodie Sutherland, CEO. ” It also confirms our exploration model for targeting Pilar is effective in defining and expanding our mineralized zones. Past drilling had returned good indications of mineralization through this 200-meter gap area, but this is the first significant interval to date that outlines the larger potential, and so far, the furthest mineralization recorded to the southwest. Drill hole JES-22-62 expands our Main Zone and further confirms there is more to be discovered at Pilar. We look forward to reviewing the remaining drill hole data as it becomes available and planning our next steps at Pilar.”

Discussion of Results

As part of the Phase III program, nine drill holes have been completed totalling over 1,562 meters (Figure 1). Drilling looked to expand the Main Zone through 25, 50 and 100-meter step-outs to the southeast in a gap zone that has seen little drilling focused on the main trend between hole JES-20-32 (94.6m at 1.6 g/t Au) and hole JES-21-50 (39.7m at 0.96 g/t Au). Drilling also covered the 4-T Trend testing below trench T-21-3, which returned 19.5 meters at 0.61 g/t Au.

Drill hole JES-22-62 was successful in intersecting a significant zone of gold with broad mineralization in a silicified andesite host (108.9 meters of 0.8 g/t Au, including 31.9 meters of 2.4 g/t Au). The intersection included a high-grade breccia zone grading 7.6 g/t Au and 5 g/t Ag over 9.4 meters. The broader low-grade interval correlates with mineralization in the Main Zone Trend, the well-established centre of mineralization at Pilar. Results are pending for two holes on this trend on either side of JES-22-62. Historic drill hole JES-18-3 intersected a high-grade Au-Ag zone returning 13.5 meters of 5.6 g/t Au and 21 g/t Ag, 75-meters east of JES-22-62. Indicating there are other parallel high-grade zones present in the area.

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About the Pilar property

The Pilar gold-silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks. Three zones of mineralization have been identified in the northwest part of the property from historic surface work and drilling and are referred to as the Main zone, North Hill and 4 trench. Structural features and zones of mineralization within the structures follow an overall northwest-southeast trend of mineralization. Over 22,700 metres of drilling have been completed to date. Significant results are highlighted below:

2021 phase II RC drilling highlights include (all lengths are drilled thicknesses):
- 39.7 metres at 0.96 g/t Au, including 1.5 m at 14 g/t Au;
- 47.7 m at 0.70 g/t Au, including three m at 5.6 g/t Au and 22 g/t Ag;
- 29 m at 0.71 g/t Au;
- 35.1 m at 0.66 g/t Au.
2020 phase I RC drilling highlights include (all lengths are drilled thicknesses):
- 94.6 m at 1.6 g/t Au, including 9.2 m at 10.8 g/t Au and 38 g/t Ag;
- 41.2 m at 1.1 g/t Au, including 3.1 m at six g/t Au and 12 g/t Ag;
- 24.4 m at 2.5 g/t Au and 73 g/t Ag, including 1.5 m at 33.4 g/t Au and 1,090 g/t Ag.
17,700 m of historic core RC drilling. Highlights include:
- 61 m at 0.8 g/t Au;
- 16.5 m at 53.5 g/t Au and 53 g/t Ag;
- 13 m at 9.6 g/t Au;
- Nine m at 10.2 g/t Au and 46 g/t Ag.

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 32 million shares outstanding and is earning 100 per cent into two exciting opportunities in Sonora, Mexico: the Pilar gold-silver project and the El Picacho gold-silver project. Management feels both projects represent tremendous opportunity to create shareholder value.

Quality assurance/quality control

Reverse circulation chips and core samples were shipped for sample preparation to ALS Ltd. in Hermosillo, Sonora, Mexico, and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO (International Organization for Standardization) 9001 and ISO/IEC (International Electrotechnical Commission) 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Overlimits for gold (greater than 10 grams per tonne) were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP (inductively coupled plasma) finish. Overlimit analyses for silver (greater than 100 g/t) were reassayed using an ore-grade four-acid digestion with ICP-AES (atomic emission spectrometry) finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the company’s robust quality assurance/quality control protocol.

Mr. Sutherland, PGeo, chief executive officer for Tocvan Ventures and a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

We seek Safe Harbor.

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